There are critical issues that determine our clients financial success. By building a customized wealth management strategy around your unique needs, we aim to effectively address these issues. Together, we will help you achieve financial security by growing and protecting your wealth, making a positive impact and planning for the future.
Our Strategies
We will create a customized plan tailored specifically to you, designed to help preserve and grow your wealth, support charitable giving, and prepare for eventually transferring your wealth to others.
Guided Planning Solutions
Imagine if you could plug your financial destination into a GPS.
At Oakworth Asset Management, we work the same way. Our Client Advisors help guide your finances toward a specific destination. Just determine where you want to go, and they can provide you options and map out the journey through our Guided.Planning.Solutions (GPS). Your Client Advisor is on standby to help you navigate traffic jams that get in the way of keeping you on track to your financial goals.
Estate Planning
Distribution of wealth upon your passing
Estate planning based on your wishes allows you to distribute your wealth to your loved ones or charity while minimizing estate taxes. Oakworth advisors will help provide for future generations by providing fiduciary services, aiming to avoid the loss of transitional wealth and protecting your estate so your legacy can continue in your absence.
Cash Flow Management
Monitor existing revenue and expenses to determine future growth opportunities
By leveraging unique tools, client advisors are able to provide clear reporting to our clients on their current cash flows. This not only allows advisors to assist in identifying areas for improvement, it also provides an opportunity to identify trends, address any problem areas and place the client in the most optimal financial position for the future.
Retirement Planning
Planning for a secure and comfortable retirement
Thinking about traveling, pursuing new hobbies or spending more time with family in retirement? Your retirement accounts can play a key role in securing your financial future. At Oakworth, we help you review current contributions, explore investment options and navigate plan limits so that your retirement income supports the lifestyle you envision. Whatever your goals, we’ll work with you to create a personalized plan for retirement.
Insurance and Risk Management
Insurance and protection strategies
Insurance can protect individuals from loss and can mitigate the damage from unfortunate circumstances. Your client advisor will analyze existing life, disability, long term care and liability insurance to help identify the appropriate coverage for your family in case of future risks or unexpected events.
Tax Planning
Maximize deductions, gains/losses, lowering rates, tax credits, etc.
Tax planning can be complex. Keeping up with all the deductions and credits is a full-time job. Your advisor will work closely with your accountant to explore customized solutions to defer and shift income, invest in tax advantaged vehicles, and identify deduction opportunities.
Multi-Generational Planning
Financial education, establishing 529 education accounts and trusts, gifting strategies for wealth transfers to heirs
Transferring wealth to heirs during life can take many forms; however, establishing a strong financial foundation is a key to its success. Various economic and emotional hurdles are involved in establishing a lifetime gifting plan. Client advisors collaborate with you, your CPA and your attorney to develop a plan aligned with your family’s goals, may reduce your taxable estate and help minimize gift taxes.
529, Education Trusts, Etc.
Education for children and grandchildren can be a significant expense for many families. There are various methods of long-term savings to cover education expenses. By establishing both a long-term savings plan combined with a tax-advantaged current payment plan, client advisors aim to support your efforts in preparing for education expenses.
Philanthropic Planning
Identifying your causes, gifting now or upon your passing
In addition to gifting to your loved ones, many feel it’s important to give back to the community. We can assist you in implementing a tax efficient charitable giving strategy to support the organizations of your choice as it fits into your financial plan. Should you decide to make direct contributions or establish a pool of funds to distribute upon your passing, your advisor can assist you in making those arrangements.
